For the first time in the region, AIIB Anchors Aberdeen Standard Investcorp Infrastructure Partners Regional Fund to build sustainable Gulf infrastructure

Mobilizes private capital investments for infrastructure in MENA

  
For the first time in the region, AIIB Anchors Aberdeen Standard Investcorp Infrastructure Partners Regional Fund to build sustainable Gulf infrastructure

Bahrain: The Asian Infrastructure Investment Bank (AIIB) announced that it will anchor the Aberdeen Standard Investcorp Infrastructure Partners’ (ASIIP) new regional fund (the Fund) by committing USD90 million to its first close. ASIIP had also received a capital commitment from the Public Investment Fund (PIF) for up to 20 percent of the Fund’s total size.

The Fund aims to participate in the economic transformation of the Gulf Cooperation Council (GCC) and the wider Middle East and North Africa (MENA) region. With environmental, social and governance principles and the United Nations Sustainable Developments Goals (SDG) at the heart of its philosophy, the Fund’s mission is to deliver solutions in health care, education, water, mobility and digital infrastructure that will benefit local communities and future generations.

The GCC needs to increase infrastructure investment urgently to accommodate a 30 percent increase in population and a gradual increase in urbanization. Given current fiscal pressures, attracting more private capital is the key to meeting this funding gap. AIIB’s contribution will not only directly mobilize the private capital the region needs by helping secure its first close but will also provide a halo effect that will encourage other investors to contribute to the Fund.

“We are excited to be partnering up with ASIIP and launch our first private investment in the MENA region. This partnership will enhance AIIB exposure to the region and allow us to work with the leading investments and developments institutions in the region to support the sustainable infrastructure in AIIB members, we look forward to working with the management team to identify vital infrastructure projects that will contribute positively to communities and future generations.”, said Saud Al Sayyari, Senior Investment Officer at AIIB. 

Sir Michael Fallon, Chairman of Aberdeen Standard Investcorp Infrastructure Partners said, “When we launched ASIIP, we combined Aberdeen Standard Investments’ strong track-record of investing in social infrastructure projects with Investcorp’s long-standing experience in the region, creating a vehicle that invests in sustainable core infrastructure projects. With AIIB’s commitment, we will be able to contribute to the post Covid19 economic recovery in countries across the Middle East while generating value for our shareholders.”

Sami Neffati, Managing Partner of Aberdeen Standard Investcorp Infrastructure Partners commented, “Investing in GCC infrastructure presents attractive opportunities driven by the region’s growth and government reforms as the sector is stable and offers predictable long-term cash flows.

We are pleased to have secured this commitment from AIIB and are looking forward to working with them on this exciting journey.”

Additional information about the project can be found on AIIB’s website.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases